Modern style constructs and sells exclusive tables. The selling price of tables is USD $15,000$ per table. A

unique feature is that the only raw material used in the construction of each table, other than indirect materials

like glues and screws, comes entirely from a single tree. Tree prices and other cost of production have

remained stable and the company is able to use each tree purchased without incurring any significant

spoilage. Consider the following disorganized information and answer the questions below.

Ending work in process $(900$ tables$)$ USD $2,700,000$

Selling price per table USD $15,000$

Ending finished goods $(300$ tables$)$ USD $2,100,000$

Indirect labor incurred during period USD $187,500$

Raw materials transferred into production $(1,050$

trees$)$

USD $1,050,000$

Beginning finished goods $(600$ tables$)$ USD $4,200,000$

Cost of glues and screws USD $52,500$

Beginning work in process USD $2,197,500$

Ending raw materials $(750$ trees$)$ USD $750,000$

Direct labor incurred during the period USD $4,950,000$

Selling, general expenses USD $1,725,000$

Depreciation of the factory equipment USD $112,500$

Raw material purchase during the period USD $1,350,000$

Other factory overheads USD $450,000$

Tables sold $1,200$ tables

Required:

a$.$ Prepare a Schedule of Cost of Goods Manufactured in good form.

b$.$ Compute the Cost of Goods Sold.

c$.$ Using data from your answers, prepare Income statement